MLC managed accounts strategies hit $1bn FUM mark
Less than three years since it was launched, MLC Asset Management’s managed account strategies have surpassed $1 billion in funds under management.
The various portfolios on offer provided options for clients with different goals, time horizons, and fee expectations. In August 2022, it had expanded to include conservative and high-growth options in response to market demand from advisers for more transparent, diversified solutions for clients.
The managed account strategies combined the firm’s “best thinking on asset allocation with a disciplined investment process”, according to Jason Komadina, MLC general manager, direct capabilities and specialist investment services.
“Our goal with these strategies was to create a high-performing solution that would be easy for advisers to work with and explain to clients. We have found this is in line with the broader industry wanting to make the advice journey more efficient and seamless for both advisers and their clients,” he said.
According to the FUM Census by the Institute of Managed Account Professionals (IMAP) and Milliman, Australians had more than $144.5 billion invested in managed accounts.
Additionally, some 56 per cent of advisers used managed accounts today, compared to 17 per cent a decade ago, per an Investment Trends and State Street Global Advisors (SSGA) report.
“It’s exciting to see the managed accounts industry go from strength to strength,” said MLC’s portfolio manager, Anthony Golowenko.
“Advisers value the access these strategies provide to their clients, so advisers can professionally manage strategies with transparency and facilitate direct ownership of underlying investments.
“Our highly experienced and passionate team of investment professionals tailors and manages the multi-asset diversified strategies to deliver consistent outcomes for clients.”
The $1 billion milestone achieved by the managed accounts strategies was just the beginning, he added.
“Through our active approach, we moved to increase the resilience of our portfolios last year in the face of rapid interest rate rises, particularly in our diversified fixed income capability. It’s this great flexibility that sees us well equipped to position the portfolios for what could be a more turbulent year ahead.”
AUTHOR
Rhea Nath
Recommended for you
T. Rowe Price believes Australian growth is successfully managing to shrug off consumer weakness, but the firm’s multi-asset team is not yet positive enough to increase its underweight position.
Iress has issued an update denying the validity of “certain statements” made by an alleged threat actor, following a cyber incident last weekend.
The latest budget papers have outlined a $10 million provision for ASIC greenwashing enforcement activity as well as funds for a sustainable labelling regime to be partially met by industry levies.
Betashares has expanded its fixed income solutions with the launch of a new ETF offering exposure to subordinated bonds issued by the big four Australian banks.
Add new comment